Innovation and Enterprise: Knowledge, Skills, and Opportunities

Innovation and
enterprise

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Knowledge and skills required to be an innovator............................................................1
Evaluating personal performance as an innovator...........................................................2
Opportunities for developing and improving innovative practices.................................2
CONCLUSION................................................................................................................................3
References:.......................................................................................................................................3

INTRODUCTION
Innovation involves the examples of new ideas, looking at things in new ways, and new
products that offer value. Innovation refers to the conception of output or doing something
differently. Successful innovation helps the business organization in increasing profits by adding
value. The innovation helps in gaining more customers and a large share of the market. The
enterprise defi to the procedure of determining the several chances for business in the aim of
profit earning and brings competitive advantage to the workplace (Bing, F., 2020). The
entrepreneur defines the person which takes initiative to start a new venture. Enterprise
innovation is an organizational process that helps in introducing new ideas, methodologies,
services & products. The report will discuss the knowledge and skills required to be an innovator
along with evaluating personal performance as an innovator. Further, it considers opportunities
for developing & improving innovative practices.
MAIN BODY
Knowledge and skills required to be an innovator
The innovator refers to a person which can develop ideas and create an environment
where employees offer tools and resources to achieve growth. The innovator is a real leader that
helps the organization in building a dynamic, highly productive, and value-based organization by
hiring talented people who are passionate about respect for their work and offering growth
opportunities. The employees in the organization are also made feel appreciated and respected,
by making them clear regarding their roles and responsibilities through the leader (Cao, and
Chen, 2018). To be an effective innovator it is essential to have knowledge of innovation which
helps in developing tools and leveraging the innovation process in an organization. There are
several skills and knowledge which is required by an entrepreneur to become a successful
innovator which are as follows-
 Observant- As innovators, they might get valuable ideas by adjusting to their
surroundings. The inherent affinity of the inventor to observe and absorb is not limited to
office space. Consumers are more likely to encounter innovators outside of the
workplace, allowing them to see behavioral shifts and current trends in a real-world
setting.
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